The municipal assembly of Budapest passed the city’s budget for 2019. According to the budget decree, the capital will have revenues totalling 266 billion forints (EUR 837.8m), while total expenditure is expected to reach 380 billion forints.

The European Commission is planning to cut cohesion funding for Hungary by about one quarter, or 17.9 billion euros, from 2021 on, Marc Lemaître, EC director for regional and urban development policy, told a roundtable in Budapest.

Under the European Commission’s current plans, Hungary will receive a 24% cut in funding in the 2021- 2027 financial framework, but in the negotiation rounds ahead, the extent of the reduction could change significantly, the daily Magyar Idők said.

The European Commission has proposed to allocate cohesion funds of 17.9 billion euros for Hungary at 2018 prices in its draft EU budget for 2021-2027, about 20% less than in the previous budgetary period, according to the draft published in Brussels on Tuesday.

The EU plans to simplify the procedure for cutting off financial support for certain members states where it sees that the rule of law is at risk such as Hungary and Poland, several Hungarian papers reported on Monday, citing a Financial Times report.

The European Commissionʼs draft 2021-2027 EU budget, which will be released in May, plans to shift EU cohesion funding away from Central and Eastern Europe to countries hit harder by the financial crisis, the Financial Times reported Monday. The EC wants to shift the criteria away from GDP per capita towards core EU values.

The municipal assembly of Budapest passed the city’s budget for 2019. According to the budget decree, the capital will have revenues totalling 266 billion forints (EUR 837.8m), while total expenditure is expected to reach 380 billion forints.

The European Commission is planning to cut cohesion funding for Hungary by about one quarter, or 17.9 billion euros, from 2021 on, Marc Lemaître, EC director for regional and urban development policy, told a roundtable in Budapest.

Under the European Commission’s current plans, Hungary will receive a 24% cut in funding in the 2021- 2027 financial framework, but in the negotiation rounds ahead, the extent of the reduction could change significantly, the daily Magyar Idők said.

The European Commission has proposed to allocate cohesion funds of 17.9 billion euros for Hungary at 2018 prices in its draft EU budget for 2021-2027, about 20% less than in the previous budgetary period, according to the draft published in Brussels on Tuesday.

The EU plans to simplify the procedure for cutting off financial support for certain members states where it sees that the rule of law is at risk such as Hungary and Poland, several Hungarian papers reported on Monday, citing a Financial Times report.

The European Commissionʼs draft 2021-2027 EU budget, which will be released in May, plans to shift EU cohesion funding away from Central and Eastern Europe to countries hit harder by the financial crisis, the Financial Times reported Monday. The EC wants to shift the criteria away from GDP per capita towards core EU values.

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